Complex Made Simple

Rakia puts $500m to ports

The Ras Al Khaimah Investment Authority (Rakia) has allocated $500m to bid for foreign port and free zone concessions, reported Gulf News. Rakia is presently competing for three port management deals and it is thought to be vying for a deal at Poti Seaport in Georgia with Dubai World and an investment firm from Sharjah. Ras Al Khaimah is also targeting Paradip Port in India in harness with Dubai's ETA Group.